Cidara Therapeutics (NASDAQ:CDTX) Upgraded at StockNews.com

StockNews.com upgraded shares of Cidara Therapeutics (NASDAQ:CDTX - Free Report) to a sell rating in a research note released on Friday morning.

Several other equities analysts have also recently commented on the stock. Citizens Jmp initiated coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price target on the stock. JMP Securities set a $46.00 target price on Cidara Therapeutics in a research report on Wednesday, March 12th. Citigroup began coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Cidara Therapeutics in a report on Friday, March 7th. Finally, HC Wainwright increased their target price on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Cidara Therapeutics has an average rating of "Buy" and a consensus target price of $39.14.

Cidara Therapeutics Trading Down 3.2 %

NASDAQ:CDTX traded down $0.55 on Friday, reaching $16.56. The stock had a trading volume of 334,453 shares, compared to its average volume of 71,423. The company has a 50-day moving average of $21.54 and a 200 day moving average of $18.89. The stock has a market cap of $181.33 million, a P/E ratio of -0.65 and a beta of 0.89. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing analysts' consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. On average, equities analysts predict that Cidara Therapeutics will post -8.74 EPS for the current year.

Insider Buying and Selling

In other Cidara Therapeutics news, insider Leslie Tari sold 1,773 shares of Cidara Therapeutics stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $38,935.08. Following the sale, the insider now owns 16,215 shares of the company's stock, valued at $356,081.40. The trade was a 9.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shane Ward sold 1,664 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $36,541.44. Following the completion of the transaction, the chief operating officer now owns 14,674 shares of the company's stock, valued at $322,241.04. This represents a 10.18 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.64% of the company's stock.

Institutional Investors Weigh In On Cidara Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDTX. Point72 Asia Singapore Pte. Ltd. bought a new position in Cidara Therapeutics during the 4th quarter valued at $56,000. Northern Trust Corp grew its holdings in Cidara Therapeutics by 6.8% during the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock worth $913,000 after acquiring an additional 2,170 shares during the period. Point72 Asset Management L.P. bought a new stake in Cidara Therapeutics in the fourth quarter worth about $165,000. Geode Capital Management LLC lifted its holdings in Cidara Therapeutics by 22.7% in the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock valued at $569,000 after acquiring an additional 9,771 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Cidara Therapeutics during the 4th quarter valued at about $339,000. Institutional investors own 35.82% of the company's stock.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.